Alaska Growth Cap. Bidco Inc. SBA Loan to Scheduled Passenger Air Transportation Company

Alaska Growth Cap. Bidco Inc. is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alaska entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairbanks, Alaska was able to borrow $2,000,000 from Alaska Growth Cap. Bidco Inc.. The SBA made the loan possible by guaranteeing $1,500,000 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHEDULED PASSENGER AIR TRANSPORTATION
FAIRBANKS, AK 99709

SBA Loan Lender

ALASKA GROWTH CAP. BIDCO INC.
3900 C STREET, SUITE 302
ANCHORAGE, AK 99503

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

481111 - Scheduled Passenger Air Transportation

Loan Approval Date

8/31/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 188 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Alaska Growth Cap. Bidco Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Alaska Growth Cap. Bidco Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Alternative Financing

Where to Get an SBA Loan in Anchorage, Alaska

SBA Participating Banks in Alaska